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View AmendmentCurrent Amendment: 1089R001.LKG.docx to Bill 1089
The Committee on Transportation proposed the following amendment (1089R001.LKG):
Amend the bill, as and if amended, page 4, by striking lines 3-20, and inserting:

/ (b)Sale of the property pursuant to this section, and in an amount permitted by item (3), shall satisfy the board's fiduciary duties to the authority and the authority's bondholders.if the property is transferred to the State Budget and Control Board for sale. The acceptance of any sales price by the State Budget and Control Board must be exercised with due regard to the fiduciary duty owed to the authority and for the protection of the interests of the authority's bondholders as set forth in its bond covenants, and otherwise according to law, including the conversion of a nonperforming asset into revenues in the most expeditious manner. /

Amend the bill further, as and if amendment, page 4, by striking line 28, and inserting:

/ transmitted to the authority. The Town of Port Royal or Beaufort County, or a combination of the two, may purchase the property at a price within the parameters established in this item. /